Legislation to settle the long standing Prop 301 lawsuit passed the Legislature and was signed into law by Governor Ducey on Friday. The legislation will be contingent upon voter approval at a statewide special election scheduled for May 17, 2016 with the FY 2016 base level with teacher comp increasing to $3645 and $50,000,000 of additional funding coming to schools if the voters vote yes. The increases will impact the current school year (2015-2016 school year) if the election passes.

Also, included in the changes is a provision that extends the date for revising the FY 2016 budget from May 15, 2016 to June 30, 2016 and a provision that would allow districts to carry forward dollars to the FY2017 budget and this carry forward provision would be unlimited and the funds would not count against the normal 4% carry forward limitation.

Realizing that people will need more details about this new legislation, AASBO have added presentations about the history of the lawsuit, details about the specific legislation, and the potential impact on school districts at our November 4th AASBO Bi-Monthly Meeting. You can attend this meeting inperson or participate in the live webcast. You can register to attend the meeting or to participate in the live webcast on the AASBO Website. They also have a link to the Revised Agenda for the November 4th AASBO meeting on the website.